Shares of Celsion Corp. (CLSN) jumped nearly 25% to $2.53 in morning trading on Wednesday, July 5, after the Lawrenceville, N.J.-based firm announced the completion of the Ovation study, a Phase 1B dose escalating clinical trial that combines GEN-1, Celsion's IL-12 gene-mediated immunotherapy, with neoadjuvant chemotherapy for the treatment of newly-
diagnosed patients with stage III and IV ovarian cancer followed by interval debulking surgery.
Celsion also said that of the seven patients that received GEN-1 treatment over a year ago and are being followed, "only one patient's cancer has progressed after 11.7 months."
"This compares favorably to the historical median progression free survival (PFS) of 12 months for newly-diagnosed patients with Stage III and IV ovarian cancer who undergo neoadjuvant chemotherapy followed by interval debulking surgery," Celsion said.Meanwhile, shares of Array BioPharma ( ARRY) climbed nearly 3% to $8.96 after the Boulder, Colo.-based firm said it has submitted two new drug applications to the U.S. Food and Drug Administration for the combination of binimetinib 45 mg twice daily and encorafenib 450 mg once daily (COMBO450) for patients with BRAF-mutant advanced melanoma.
Other biotech movers include BeiGene Ltd.'s (BGNE) , whose American depository receipts were up nearly 4% before the open but were down 4.6% in morning trading to $51.87. The company said the first patient was dosed in a clinical study in China of BGB-A317 in patients with bladder cancer. The study will evaluate BGB-A317 in Chinese patients with previously treated, PD-L1-positive, locally advanced or metastatic urothelial cancer.
GB-A317 is also being evaluated in a study in China in patients with relapsed or refractory classical Hodgkin lymphoma.
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Meanwhile, over on Real Money, Jonathan Heller writes that Monomoy Capital Partners, which is buying West Marine Inc. (WMAR) for $12.97 per share in a deal announced June 29, "is getting a heck of a bargain at that price."
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